Since 1929, total government taxes as a percentage of GDP:
A. climbed from 10 percent to about 30 percent.
B. remained close to 30 percent.
C. climbed from 30 percent to about 50 percent.
D. climbed from 15 percent to about 50 percent.
Answer: A
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The real costs of inflation to society include:
A. lost purchasing power of income. B. an increase in the general level of prices. C. interference with long-term planning. D. higher relative prices.
Figure 8.4 depicts demand and costs for a monopolistically competitive firm. If the firm's demand curve shifts to the left as more firms enter the market:
A. the firm's profit will be smaller at the new profit-maximizing output level. B. the firm's profit will be greater at the new profit-maximizing output level. C. the firm's profit will remain the same at the new profit-maximizing output level. D. There is not sufficient information.
Ultimately, tariffs ________ prices for imported goods and ________ prices for domestic goods
A) raise; raise B) raise; lower C) raise; do not affect D) do not affect; do not affect
The Internet was first developed in the
a. business sector. b. government sector. c. corporate sector. d. college dorm room of Bill Gates.